The Saudi British Bank (SABB) recorded a net profit after Zakat and income tax of SR970 million ($259 million) for the three months ending March 31. This is a decrease of SR1 million or 0.1 percent compared to SR971 million for the same period in 2020.
The operating income was SR2.01 billion for the three months ending March 31, a decrease of SR361 million or 15 percent, compared to SR2.37 billion for the same period in 2020.
The loans and advances stood at SR156.7 billion on March 31, an increase of SR1.5 billion or 1 percent from SR155.2 billion on March 31, 2020.
The customers’ deposits amounted to SR183.7 billion for the first quarter of 2021, a decrease of SR4.6 billion or 2.4 percent compared with SR188.3 billion for the same period last year.
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Saudi British Bank (SABB) has recorded a net profit of SR970 million ($258.4 million) for the first three months amid challenging Covid conditions. The operating income stood at SR2.01 billion, while the total assets surged to hit SR271.6 billion.
Revealed: Top 5 most powerful Arabs in Saudi Arabia
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The highest ranked Arabs originating from Saudi Arabia in Gulf Business’ annual Arab power list
by Gulf Business
Saudi nationals once again stood out as the second largest group in
Gulf Business‘ annual Arab Power list for 2021, with the number of entries tallying 20 this year.
Leading from the front is the chair of the state-owned oil giant Saudi Aramco, while its CEO Amin Naseer also sat among the top five most powerful Arabs from the kingdom.
SABB reports resilient Q4 results, net income up by 7% arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.